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cowboys39

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does canceling credit cards hurt my credit score? i no longer use them and have no need for them

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It can by reducing overall credit which increases utilization if you're carrying a balance/debt. If you don't use them that's fine...sock drawer them but use them for little things once or twice a year to keep them active.

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Cancelling cards removes each card credit limit from your total and that drops youor score.  Please read the articles here to learn how credit works and how having a good score can help you.  I went from cash only to building a very good credit score (and on a fixed income BTW)  and was recently able to buy a new car at a low interest rate because of the score.

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